China yuan retreats to 6.1720 against USD

The Chinese currency Renminbi, or the yuan, retreated 68 basis points to 6.1720 against the U.S. dollar in the central parity rate on Thursday, according to the China Foreign Exchange Trading System.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.